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China cuts a key policy rate for first time in 10 months as economic rebound cools

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China's central bank lowered its key medium-term lending rates on Thursday, in a much anticipated move as the economy's post-Covid recovery continues to lose momentum.

The People's Bank of China lowered the rate of one-year medium-term lending facility loans to some financial institutions by 10 basis points from 2.75% to 2.65%.

 

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